Macroeconomic Modelling and Policy (BUS330)
Module code: BUS330
Module organiser: Dr Sanghamitra Bandyopadhyay
In this module, we will cover selected principles and policies that characterise the macro economy. The course will focus on theories and applications of economic growth and income inequality, unemployment and inflation, in particular. The theories will be tested using empirical methods popular in the literature. The student will be able to address questions popular in the new empirical macroeconomic literature such as, what causes a nation’s economic activity to fluctuate, what causes unemployment, what are the new empirics of global income inequality, inflation, and unemployment, and what are the spatial distributions of economic growth and unemployment across the world.
To introduce students to modern macroeconomic theories and practice
To provide students with basic econometric skills and to be able to understand empirical macroeconomics research.
To identify mechanisms and learn about the new empirics of macro-aggregate variables such as economic growth, inequality, unemployment and inflation.
To provide elements which can then be used other modules related to Economics and Finance.
• Categories and principles guiding specific areas of Macroeconomics
• Methodology applied in the area.
• Econometric applications to study the basics of empirical macroeconomics.
Mid-term test – (30%), 2hr exam (70%)
Indicative Reading List
Macroeconomics – Oliver Blanchard (2006) Pearson.
Macroeconomics: Imperfections, Institutions, and Policies - Wendy Carlin and David Soskice, (2005) OUP.
Macroeconomics - G. Mankiw (2009), Worth Publishers
Introduction to Econometrics - Damodar Gujarati (2009) McGraw Hill